Flipkart-backed Super.Money is on an expansion binge, with plans to broaden its credit and wealth management capabilities since starting in July of this year.

The Bengaluru-based fintech business plans to launch credit products such as credit via Unified Payments Interface (UPI), unsecured credit cards, and personal loans in the first part of the next calendar year (2025).

"In the first quarter of the next calendar year, you should see transaction credit products based on UPI taking shape, as well as unsecured credit cards planned between December and January of this year. In the first quarter of 2025, you will see personal lending products on the app," stated Prakash Sikaria, creator and CEO.

Last year, the banks regulator increased risk weights for unsecured personal loans, restricting growth in the sector.

"There is no idea of MVP (minimum viable product) in fintech anymore since the changing paradigm requires you to adapt, provide excellent customer service, and maintain backups. When I mentioned 10 to 15 bank partnerships, it implied that we were dealing with a variety of banks. Even if there is a regulatory action against one, your firm does not suffer," Sikaria stated.\

Last month, the business entered the wealth management product market by offering fixed deposits to its customers. The founder intends to launch further solutions in the field, such as mutual funds, by the middle of next year. 

"With the clarity of digital lending criteria and the first loss default guarantee, our focus has been on compliance and product development. I don't believe we need an NBFC license for that. We need it for other things to run smoothly, so for the first portion of our journey, we just want to focus on the product, distribution, and compliance," he explained.

With initial success on UPI, the company's next aim will be to fine-tune its 'cross-sell mechanism'.

"There is a lot of emphasis on releasing innovative products and expanding them on top of our foundation. It entails nudging the appropriate set of users."You will see a lot of product-centric work on the consumer side, as well as new financial products launched to monetize those users," he said.

However, despite interest from other fintechs in expanding into merchant categories, Sikaria believes otherwise.

"The interoperable system enables us to operate without needing to scale the merchant side." At least for the next year, until we have our consumer engine in place, I don't want to distract and focus on the merchant side," he said.

Larger firms, such as PhonePe, have a merchant base of over 40 million. The fintech major's total customer base exceeds 500 million.